FY23 Financial Performance and Market Strategy
ACQUISITION OF BROMLEY PARK HATCHERIES (NZ)
APPROVALS RECEIVED FROM COMMERCE COMMISSION & OVERSEAS INVESTMENT OFFICE
INGHAM'S
Always Good
Inghams acquiring the Bromley Park Hatcheries business for NZ$8.6M1
Acquisition encompasses the working capital and fixed assets associated with the business
3rd party lessor to acquire land and facilities and to enter into a long-term lease with Inghams
Benefits
Reduces network risk and improves hatchery contingency with a modern hatchery, whilst providing for
future growth
Provides the opportunity for Inghams NZ to become self-sufficient in respect of its Day Old Chick
requirements
Purchase avoids the longer lead time, additional costs and associated risks of undertaking greenfield
development project
Update
Commerce Commission approval received in July
Overseas Investment Office approval received in August
Settlement expected during 2Q FY24
1. Subject to normal working capital adjustments on completion
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